SNFs and nursing homes today face far more competition from alternative long-term care communities such as assisted living facilities and home health agencies. These facilities must focus on quality and exercise prudent expense management to achieve sustainable profit margins if they hope to stave off this competition and remain profitable.
However, many individuals entering a leadership position in the long-term care industry and faced with managing a business budget have limited or no formal training in accounting, finance, budgeting, or statistics.
Finance, Budgeting, and Analysis Made Simple for Long-Term Care will provide readers with the financial and decision-making skills they need to achieve quality and compliance on dwindling profit margins. After finishing this book, readers will be able to:
Apply important financial and budgetary principles to address current cost issues, adequately manage the facility's finances and anticipate future capital-based needs
Understand how to calculate per patient days to provide a detailed interpretation of the daily budget and monitor costs
Identify the core concepts of analytics to measure the facility's status in a streamlined fashion
Understand how to interpret service contract terms for efficient negotiation and positive financial impact
Apply real-world examples and case studies that illustrate effective finance and budgeting management
Download all the forms necessary for successful budget management
